Ranbaxy lab reports losses in its Q3 results

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Ranbaxy lab reports losses in its Q3 results
Ranbaxy Laboratories Ltd., a pharmaceutical company reported a net loss of Rs 464 crore in its third quarter results ended September 30.

The company's net loss stood at Rs 307 crore corresponding quarter previous year.

It's total income increased from Rs 2,021.5 crore for the quarter ended September 30, 2010 to Rs 2,197 crore for the quarter ended September 30, 2011.

It's EBITDA stood at 11% during the quarter.

Commenting on the results, Mr Arun Sawhney, CEO and Managing Director, Ranbaxy, said, “Ranbaxy’s focus on long term improvement of its base business and margins has begun to reflect in the company’s performance. This is resulting from an increased focus on strengthening manufacturing processes while realigning our products and markets for value creation.”

The stock of Ranbaxy Lab slumped the most on the Bombay Stock Exchange after announcing the results. The stock ended low by 21.40 points or 4.31% at Rs 475.40.

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